07.05.2020
The pair is consolidating in the range of 72.50–75.50 amid a surge of uncertainty regarding the global economy recovering from the coronavirus crisis, while the West, particularly the US, is blaming China for the COVID-19 pandemic. Today, the opening of trading in Russia is expected to be positive due to this morning’s favorable data from China. This may support the RUB.
Technical side:
The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is at 50% and indicates a weaker price increase. Stoch are still growing.
Trading recommendations:
Sell the pair with a likely decrease to 72.50.
USDRUB rate online: monitor the movement of the pair in real time.
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